oel announcement on jv in tanzania, page-18

From piecing different information together, for me, it seems like, in December 2013. PV board decided to focus on Moroco, Gabon and Madagascar. Hence they might have written to TPDC informing them of their decision without giving Swala sufficient time to manage TPDC (i.e. seek replacement partner if required). This action was surely not expected by Swala management.
TPDC's argument that the bid has changed is not very unreasonable. Going forward, TPDC will probably ask for fresh bids under new rules which might require a signature bonus.
Should management consolidate funds for development of current assets or should they expand our asset base? Does the market have appetite to fund the bid and development of Eyasi and development of current assets? I am confident that management is up to task to take us to the grand BBQ.